"We are very proud to be associated with a company with such a tradition of sporting excellence," commented Neil Ressier, Chairman of Jaguar Racing and Chief Technical Officer of Ford Motor Company. "We are looking forward to a strong partnership with Michelin, and the fact that this is a long term agreement shows the strength of commitment from Michelin and Jaguar Racing to succeed."

"Formula One is an exercise in technology," said Herb Johnson, Director of Motorsports, Michelin North America. "Certainly Jaguar is recognized for its technology and are committed to transferring that technology to its passenger cars. That's why this is such a great partnership for Michelin."

"We're very pleased to have signed with the Jaguar team," said Michelin Racing Director, Pierre Dupasquier. "We have already started our tire test program at our research center in France and are looking forward to meeting the challenge of Formula One."

Michelin announced in December 1999 that BMW/Williams F1 team (in 2001) and Toyota (some time before 2003), will ride on Michelin tires in F1 competition.

Jaguar made its Formula One debut at the 2000 Australian Grand Prix; Michelin will make its debut at the first race of the 2001 season, ending a 16-year absence from the sport. In 1977, Michelin brought the radial revolution to F1 with the introduction of the first-ever radial racing tire. When the company left Formula One competition in 1984, all F1 cars were on radial tires. In all, Michelin scored 59 wins, three Drivers' World Championship titles and two Manufacturers' World Championship titles.

In 2000 sports car endurance competition, Michelin has won the 24 Hours of Daytona with Dodge Viper and the 12 Hours at Sebring with Audi. Michelin also won the 1999 24 Hours of Le Mans with BMW.

(March 30, 2000)